Strong cash reserves should authorize a share buyback
With 340mil sitting in the bank, they should authorize a share buyback. (maybe 34 mil, 10% of cash) It would show the investing community they believe in these price levels. Whether or not they actually use the funds for repurchase is TBD. But would be a strong 'show of faith' in their own company, and possibly create a little more
Would be nice to see this move up little instead of down a lot.
It took them 2 years to decide to close an office in Louisiana.....so a decision like this would take at least a decade or two.
Maybe they should take their cash and invest in FWLT.....they might get a better return
If the view is that the shares are undervalued at this time, then a buyback should be authorized - even for as little as maybe 5 million shares.
There's plenty of cash in the bank earning 0.01% interest - how much do shares need to go up to make more than that? Additionally, the ancillary effect is a boost to EPS and increased shareholder value (book value per share).
If the decision is to not do a buyback, then maybe the debt, or some portion of it should be paid off. Again, the interest rate on the debt is far in excess of what is being earned on the cash.